rop-20260630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 1-12273

ROPER TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)


Delaware		51-0263969
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

6496 University Parkway
Sarasota,	Florida	34240
(Address of principal executive offices)		(Zip Code)

(941) 556-2601

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 Par Value

ROP

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


☒	Large accelerated filer	☐	Accelerated filer

☐	Non-accelerated filer	☐	Smaller reporting company

		☐	Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

The number of shares outstanding of the registrant’s common stock as of July 28, 2026 was 98,900,874.

ROPER TECHNOLOGIES, INC.

REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2026

TABLE OF CONTENTS


		Page
PART I.	FINANCIAL INFORMATION

Item 1.	Financial Statements (unaudited):

	Condensed Consolidated Statements of Earnings	3

	Condensed Consolidated Statements of Comprehensive Income	4

	Condensed Consolidated Balance Sheets	5

	Condensed Consolidated Statements of Cash Flows	6

	Condensed Consolidated Statements of Changes in Stockholders ’ Equity	7

	Notes to Condensed Consolidated Financial Statements	8

Item 2.	Management ’s Discussion and Analysis of Financial Condition and Results of Operations	18

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	27

Item 4.	Controls and Procedures	27

PART II.	OTHER INFORMATION

Item 1.	Legal Proceedings	28

Item 1A.	Risk Factors	28

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	31

Item 5.	Other Information	31

Item 6.	Exhibits	32

	Signatures	33

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Roper Technologies, Inc.

Condensed Consolidated Statements of Earnings (unaudited)

(Amounts in millions, except per share data)


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Net revenues	$	2,108.9	$	1,943.6	$	4,204.2	$	3,826.4
Cost of sales	638.7		598.2		1,280.2		1,187.3
Gross profit	1,470.2		1,345.4		2,924.0		2,639.1

Selling, general and administrative expenses	885.5		797.1		1,769.7		1,565.0
Income from operations	584.7		548.3		1,154.3		1,074.1

Interest expense, net	111.4		79.1		210.7		142.0
Equity investment (gain) loss, net	(835.2)		(16.6)		(1,002.5)		27.8
Other expense, net	0.5		0.5		3.1		1.0


Earnings before income taxes	1,308.0		485.3		1,943.0		903.3

Income taxes	139.5		107.0		265.6		193.9







Net earnings	$	1,168.5	$	378.3	$	1,677.4	$	709.4









Net earnings per share:
Basic	$	11.64	$	3.52	$	16.40	$	6.60
Diluted	$	11.62	$	3.49	$	16.35	$	6.55

Weighted average common shares outstanding:
Basic	100.4		107.6		102.3		107.5
Diluted	100.6		108.4		102.6		108.3

See accompanying notes to Condensed Consolidated Financial Statements.

Roper Technologies, Inc.

Condensed Consolidated Statements of Comprehensive Income (unaudited)

(Amounts in millions)


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Net earnings	$	1,168.5	$	378.3	$	1,677.4	$	709.4

Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(21.8)		42.7		(34.1)		62.4
Total other comprehensive income (loss), net of tax	(21.8)		42.7		(34.1)		62.4

Comprehensive income	$	1,146.7	$	421.0	$	1,643.3	$	771.8

See accompanying notes to Condensed Consolidated Financial Statements.

Roper Technologies, Inc.

Condensed Consolidated Balance Sheets (unaudited)

(Amounts in millions)


	June 30, 2026		December 31, 2025
ASSETS:

Cash and cash equivalents	$	364.9	$	297.4
Accounts receivable, net	927.2		1,001.0
Inventories, net	145.4		141.7
Income taxes receivable	73.3		128.2
Unbilled receivables	153.8		124.0
Prepaid expenses and other current assets	253.9		235.8

Total current assets	1,918.5		1,928.1

Property, plant and equipment, net	158.7		156.9
Goodwill	21,330.7		21,341.2
Other intangible assets, net	9,347.3		9,764.2
Deferred taxes	67.8		73.3
Equity investment	1,792.2		796.3
Other assets	554.3		517.0

Total assets	$	35,169.5	$	34,577.0

LIABILITIES AND STOCKHOLDERS’ EQUITY:

Accounts payable	$	174.1	$	150.3
Accrued compensation	232.0		293.0
Deferred revenue	1,707.8		1,906.8
Other accrued liabilities	588.9		642.3
Income taxes payable	49.4		28.0
Current portion of long-term debt, net	718.3		705.2

Total current liabilities	3,470.5		3,725.6

Long-term debt, net of current portion	10,601.1		8,595.8
Deferred taxes	1,897.4		1,883.1
Other liabilities	500.2		491.0

Total liabilities	16,469.2		14,695.5

Commitments and contingencies (Note 11)

Common stock, 350.0 shares authorized; 109.4 shares issued and 98.9 outstanding at June 30, 2026 and 109.3 shares issued and 106.6 outstanding at December 31, 2025	1.1		1.1
Additional paid-in capital	3,391.9		3,292.2
Retained earnings	18,697.6		17,205.7
Accumulated other comprehensive loss	(135.5)		(101.4)
Treasury stock, 10.5 shares at June 30, 2026 and 2.7 shares at December 31, 2025	(3,254.8)		(516.1)
Total stockholders’ equity	18,700.3		19,881.5
Total liabilities and stockholders’ equity	$	35,169.5	$	34,577.0

See accompanying notes to Condensed Consolidated Financial Statements.

Roper Technologies, Inc.

Condensed Consolidated Statements of Cash Flows (unaudited)

(Amounts in millions)


	Six months ended June 30,
	2026		2025
Cash flows from operating activities:
Net earnings	$	1,677.4	$	709.4
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation and amortization of property, plant and equipment	20.1		19.6
Amortization of intangible assets	440.9		417.2
Amortization of deferred financing costs	6.3		5.5
Non-cash stock compensation	108.2		82.7
Equity investment (gain) loss, net	(1,002.5)		27.8

Income tax provision	265.6		193.9
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable	71.0		37.4
Unbilled receivables	(30.8)		(9.7)
Inventories	(4.9)		(9.6)
Prepaid expenses and other current assets	(23.3)		(22.9)
Accounts payable	24.4		7.0
Other accrued liabilities	(93.9)		(115.4)
Deferred revenue	(193.6)		(132.7)
Cash taxes paid for gain on disposal of equity investment	—		(30.2)
Cash income taxes paid, excluding tax associated with gain on disposal of equity investment	(190.2)		(233.7)
Other, net	(13.1)		(13.5)


Cash provided by operating activities	1,061.6		932.8

Cash flows from (used in) investing activities:
Acquisitions of businesses, net of cash acquired	(27.5)		(2,005.2)
Capital expenditures	(25.3)		(26.0)
Capitalized software expenditures	(30.9)		(26.8)


Distributions from equity investment	6.7		5.1
Cash receipts on beneficial interest in sold receivables	4.5		—
Other, net	0.2		1.6



Cash used in investing activities	(72.3)		(2,051.3)

Cash flows from (used in) financing activities:


Borrowings under revolving credit facility, net	2,000.0		1,275.0
Debt issuance costs	(3.9)		—

Cash dividends to stockholders	(191.4)		(177.2)
Repurchases of common stock	(2,726.7)		—
Proceeds from (tax withholding payments for) stock-based compensation, net	(8.6)		73.8
Treasury stock sales under employee stock purchase plan (“ESPP”)	12.7		12.5

Other, net	12.8		(43.9)


Cash provided by (used in) financing activities	(905.1)		1,140.2